Ethereum Spot ETFs See Record Inflows Near $726M as Price Approaches $3,400 and Whale Activity Increases

Key Points

1. Ethereum spot ETFs in the U.S. recorded a record daily net inflow of $726 million, surpassing the previous high of $428 million, with BlackRock's ETHA leading at $499 million.

2. These ETFs collectively hold over 5 million ETH, representing more than 4% of Ethereum's circulating supply, with total net inflows since July 2024 reaching $6.48 billion.

3. Ethereum's price neared $3,400, marking an 8.85% gain in 24 hours, supported by strong technical indicators like the 20-day and 50-day EMAs at $2,866 and $2,647, respectively.

4. Whale activity included purchases of over $38 million in ETH by addresses '0x52e,' '0x310,' and '0x8af,' signaling confidence in Ethereum's growth potential.

5. Substantial ETH withdrawals from exchanges, such as 88,292 ETH in a week, and corporate treasury accumulation, like SharpLink Gaming's 10,854 ETH purchase, highlight strong holding sentiment and reduced market supply.